Badger Meter, Inc. $BMI Shares Sold by Rhumbline Advisers

Rhumbline Advisers cut its holdings in shares of Badger Meter, Inc. (NYSE:BMI) by 11.5% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 119,565 shares of the scientific and technical instruments company’s stock after selling 15,505 shares during the quarter. Rhumbline Advisers owned about 0.41% of Badger Meter worth $21,352,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of the company. Franklin Resources Inc. boosted its position in shares of Badger Meter by 148.3% during the second quarter. Franklin Resources Inc. now owns 48,190 shares of the scientific and technical instruments company’s stock worth $11,804,000 after buying an additional 28,779 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Badger Meter during the 2nd quarter worth $343,000. Commonwealth Equity Services LLC grew its stake in shares of Badger Meter by 13.5% in the third quarter. Commonwealth Equity Services LLC now owns 70,488 shares of the scientific and technical instruments company’s stock worth $12,588,000 after purchasing an additional 8,387 shares in the last quarter. Boston Trust Walden Corp increased its holdings in shares of Badger Meter by 43.7% during the third quarter. Boston Trust Walden Corp now owns 330,039 shares of the scientific and technical instruments company’s stock valued at $58,938,000 after purchasing an additional 100,298 shares during the period. Finally, Alps Advisors Inc. raised its stake in shares of Badger Meter by 85.9% during the third quarter. Alps Advisors Inc. now owns 82,568 shares of the scientific and technical instruments company’s stock valued at $14,745,000 after purchasing an additional 38,160 shares in the last quarter. 89.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Zacks Research lowered shares of Badger Meter from a “hold” rating to a “strong sell” rating in a research report on Friday, January 30th. Stifel Nicolaus set a $166.00 target price on Badger Meter and gave the company a “buy” rating in a research note on Thursday, January 29th. Deutsche Bank Aktiengesellschaft reiterated a “hold” rating and issued a $167.00 price target on shares of Badger Meter in a research report on Thursday, January 29th. Barclays set a $136.00 price objective on shares of Badger Meter and gave the stock an “underweight” rating in a research note on Thursday, January 29th. Finally, Robert W. Baird set a $165.00 target price on shares of Badger Meter in a research note on Thursday, January 29th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $181.88.

Badger Meter Price Performance

NYSE BMI opened at $155.33 on Tuesday. The firm has a market capitalization of $4.58 billion, a price-to-earnings ratio of 32.36, a price-to-earnings-growth ratio of 2.49 and a beta of 0.90. The company has a 50 day simple moving average of $169.11 and a 200-day simple moving average of $176.89. Badger Meter, Inc. has a 52-week low of $139.14 and a 52-week high of $256.08.

Badger Meter (NYSE:BMI) last announced its quarterly earnings data on Wednesday, January 28th. The scientific and technical instruments company reported $1.14 EPS for the quarter, missing analysts’ consensus estimates of $1.15 by ($0.01). The company had revenue of $220.71 million for the quarter, compared to analysts’ expectations of $232.30 million. Badger Meter had a net margin of 15.45% and a return on equity of 20.71%. The business’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the firm posted $1.04 earnings per share. On average, analysts predict that Badger Meter, Inc. will post 4.65 EPS for the current year.

Badger Meter Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 13th. Investors of record on Friday, February 27th will be given a dividend of $0.40 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.60 dividend on an annualized basis and a yield of 1.0%. Badger Meter’s dividend payout ratio (DPR) is presently 33.33%.

Insider Transactions at Badger Meter

In other Badger Meter news, CEO Kenneth Bockhorst acquired 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, February 10th. The shares were purchased at an average price of $152.42 per share, with a total value of $502,986.00. Following the completion of the transaction, the chief executive officer owned 40,013 shares in the company, valued at $6,098,781.46. The trade was a 8.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert Wrocklage bought 1,650 shares of Badger Meter stock in a transaction on Monday, February 9th. The stock was acquired at an average price of $152.35 per share, with a total value of $251,377.50. Following the completion of the purchase, the executive vice president directly owned 19,541 shares of the company’s stock, valued at approximately $2,977,071.35. The trade was a 9.22% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders own 0.90% of the company’s stock.

Badger Meter Company Profile

Badger Meter, founded in 1905 and headquartered in Milwaukee, Wisconsin, is a global leader in flow measurement and control solutions. The company’s core business centers on the design, manufacture and sale of water meters, control valves and related accessories for municipal and industrial water utilities. Over its more than a century of operation, Badger Meter has built a reputation for precision engineering, durability and compliance with international regulatory standards.

The company’s product portfolio includes mechanical and ultrasonic water meters, electromagnetic flow meters for industrial applications, and a range of control valves that help utilities manage pressure and flow in distribution networks.